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☆ A desperate Russia may be just what North Korea needs to finally update its ancient Air Force
▼ + stars: | 2023-10-15 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +9 min

North Korean leader Kim Jong Un visited Russia in September on his first overseas trip since 2019. The visit was seen as Russia's attempt to secure North Korean support for Moscow's war in Ukraine. For North Korea, Russia's desperation may be a chance to get help upgrading its aging air force. Korean People's Army Air and Anti-Air ForceSouth Korean troops guard a MiG-19 that a North Korean pilot used to defect in May 1996. KCNA via REUTERSGiven the North Korean air force's needs, it's easy to see Kim's visit as something of a prospective shopping trip.

Persons: Kim Jong Un, —, Vladimir Putin, Sergei Shoigu, Kim, Putin, CHOO YOUN, Antonov, Mikhail Japaridze, Kim's, Kim strode, Shoigu, Sergey Kobylash, Denis Manturov, Kim Jong Organizations: North, Service, Russian Defense, Vostochny, Amur Aircraft, Knevichi, Korean People's Army Air, Air Force South, MiG, Getty, Air Force, North Korean, Defense Intelligence Agency, DIA, KCNA, REUTERS, Kremlin Locations: Russia, Ukraine, North Korea, Korean, Russian, Moscow, Pyongyang, KONG, AFP, Soviet Union, China, Komsomolsk, Vladivostok, Japan, Korea

☆ Oil falls further on US stock build, easing supply concerns
▼ + stars: | 2023-10-12 | by ( Trixie Sher Li Yap | ) www.reuters.com time to read: +3 min

REUTERS/Nick Oxford//File Photo Acquire Licensing RightsSINGAPORE, Oct 12 (Reuters) - Oil prices fell for a third day on Wednesday, dragged down by a larger-than-expected crude and gasoline stockbuild in the U.S. and easing supply concerns. U.S. crude oil stockpiles swelled by about 12.9 million barrels, according to market sources citing American Petroleum Institute figures on Wednesday. "Crude oil extended losses on signs the impact of the Israel-Hamas war on the oil market will be limited," ANZ analysts said in a client note. Expectations by the U.S. EIA of global oil inventories falling further in the second half of 2023, however, limited price weakness. The lower inventories, which are forecast to keep global oil supply below consumption, are likely to boost oil prices, the EIA said in a monthly report.

Persons: Nick Oxford, Brent, JP Morgan, Trixie Yap, Shri Navaratnam Organizations: REUTERS, Rights, U.S, West Texas, American Petroleum Institute, ING, U.S . Energy Information Administration, ANZ, EIA, Thomson Locations: Cushing , Oklahoma, Rights SINGAPORE, U.S, ., California, Israel

☆ Oil falls further on U.S. stock build, easing supply concerns
▼ + stars: | 2023-10-12 | by ( ) www.cnbc.com time to read: +2 min

Oil prices extended losses for a third session, dragged down by a larger-than-expected crude and gasoline stockbuild in the U.S. and easing supply concerns. U.S. crude oil stockpiles swelled by about 12.9 million barrels, according to market sources citing American Petroleum Institute figures on Wednesday. "Crude oil extended losses on signs the impact of the Israel-Hamas war on the oil market will be limited," ANZ analysts said in a client note. Expectations by the U.S. EIA of global oil inventories falling further in the second half of 2023, however, limited price weakness. The lower inventories, which are forecast to keep global oil supply below consumption, are likely to boost oil prices, the EIA said in a monthly report.

Persons: Brent, JP Morgan Organizations: U.S, West Texas, American Petroleum Institute, ING, U.S . Energy Information Administration, ANZ, EIA Locations: San Joaquin Valley, McKittrick , California, U.S, ., California, Israel

The updates include the addition of memory storage to its developer tools for using AI models. The new features are expected to be rolled out at OpenAI’s first-ever developer conference in San Francisco on November 6, sources said. Keeping developers happy has been a major focus for OpenAI, these sources told Reuters. Earlier this year, the company rushed to release ChatGPT plugins, add-on tools that allow developers to create applications within ChatGPT. Earlier this year, Altman admitted to a group of developers in London that plugins have not gained market traction.

Persons: Sam Altman, Elon Musk, Altman, Musk doesn't, OpenAI, Jasper, ChatGPT, Lakshya Bakshi, Krystal Hu, Anna Tong, Kenneth Li, Nick Zieminski Organizations: Reuters, Elon, Google, Thomson Locations: OpenAI’s, San Francisco, London

☆ Klarna takes aim at Google and Amazon with AI image recognition tool for shopping
▼ + stars: | 2023-10-11 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

It's similar to how Google Lens directs users to suggestions based on items captured by their camera. The tool is trained on data from PriceRunner, a price comparison service Klarna acquired for close to $1 billion. PriceRunner competes with the likes of Amazon , Google's shopping comparison service Google Shopping, and French-founded firm Kelkoo. Klarna users will be able to point their phone at an item of clothing or gadget and find recommendations on similar products directly within the Klarna app. Still, regulators, not least the European Union, have become wary about the rapid advancement of generative AI technology, which generates new material in response to human inputs.

Persons: Rafael Henrique, David Sandstrom, Klarna Sandstrom, Klarna, Sandstrom Organizations: Getty, Google, CNBC, Microsoft, European Union Locations: Swedish, PriceRunner, French, Stockholm, Europe, China, Silicon Valley

☆ Gutsy, a cybersecurity startup from the founders of Twistlock, just raised a $51 million seed round using this 27-slide pitch deck
▼ + stars: | 2023-10-10 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Gutsy, a cybersecurity startup, has raised $51 million in seed funding, the company said Tuesday. Founded in 2022 and now emerging from stealth, Gutsy wants to help companies solve their issues in the increasingly complicated and overwhelming world of cybersecurity. Based in Baton Rouge, Louisiana, Gutsy's cofounders previously built container security startup Twistlock, which was acquired for $410 million by Palo Alto Networks in 2019. The company provides cloud security tools for businesses to manage their data across auditing, governance, and migration, connected via an API. The company's massive $51 million seed funding round came from YL Ventures, a backer of Twistlock, and venture firm Mayfield, alongside a number of cybersecurity angel investors. "

Persons: John Morello, Gutsy, Gutsy's, Morello, Mayfield Organizations: Palo Alto Networks, YL Ventures Locations: cybersecurity, Baton Rouge , Louisiana

☆ Google announces new generative AI search capabilities for doctors
▼ + stars: | 2023-10-09 | by ( Ashley Capoot | ) www.cnbc.com time to read: +7 min

Google's new search capabilities can also be used for other crucial applications such as applying the correct billing codes and determining whether patients meet the criteria to enroll in a clinical trial, O'Malley said. Google Cloud on Monday announced new artificial intelligence-powered search capabilities that it said will help health-care workers quickly pull accurate clinical information from different types of medical records. Aashima Gupta, global director of health care strategy and solutions at Google Cloud, said the new Vertex AI Search capabilities can integrate directly into a clinician's workflow, which is of high importance for customers in the field. Customers can sign up for early access to Vertex AI Search for health care and life sciences starting Monday, but Google Cloud has already been testing the capabilities with health organizations such as Mayo Clinic, Hackensack Meridian Health and Highmark Health. Mayo Clinic is not using the new Vertex AI Search tools in clinical care yet, said Cris Ross, Mayo's chief information officer; it is starting with administrative use cases.

Persons: O'Malley, Lisa O'Malley, Aashima Gupta, Gupta, Cris Ross, we're, it's, Ross, Richard Clarke, Clarke Organizations: Cloud AI, Google Cloud, CNBC, Google, Monday, American Medical Association, Mayo Clinic, Hackensack Meridian Health, Highmark Health, Health

☆ Bank of America's top 5 stocks for safety and security in a dangerous world
▼ + stars: | 2023-10-09 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

Security is becoming increasingly crucial around the world, and Bank of America thinks investor portfolios can benefit from owning certain names. The bank on Monday released its "Future Security" primer, examining stocks through a lens of safety. Information security company CyberArk Software also made the list. CYBR YTD mountain CyberArk YTD "CyberArk is the clear leader within the PAM [privileged access market] market, with a robust technological moat," Liani said. TRU YTD mountain TransUnion YTD.

Persons: Felix Tran, Benjamin Netanyahu, CrowdStrike, Tal Liani, Matt Cohen, CyberArk, Liani, BofA, Heather Balsky, Tomer Zilberman, Andrew Obin, Obin, Michael Bloom Organizations: Bank of America, Israeli, Defense, U.S . Aerospace & Defense ETF, CyberArk Software, Motorola Solutions, Motorola, North, APG Locations: Israel, U.S

The pickle-wardrobe mania is emblematic of what sets TikTok Shop apart from e-commerce competitors like Shopify and Amazon. Just like TikTok's non-shopping content, TikTok Shop is built around viral videos, be it a surge in viewer interest in pickle-jar sweatshirts or a mad rush to buy freeze-dried Skittles . For UK sellers, chasing virality still seems to be the defining characteristic of the TikTok Shop experience. Jessica Slone runs TikTok shop Bad Addiction Boutique, which has sold tens of thousands of pickle-jar sweatshirts. "TikTok Shop is kind of this roller coaster, and right now it's on this amazing uphill journey.

Persons: TikTok, Dill, Frank Bloomer, Ashley Martinez, Michael Herling, I'm, it's, Herling, Jessica Slone, Slone, TikTok's, Lindzi Shanks, Shanks, TikTok doesn't, Virality, Laura Ritchey, Sellers, Julia Cote, hadn't, influencers, they'd, Ben Muir, virality, Hira Tariq, who's, Candy, there'll, It's, Boutique's Slone Organizations: US, TikTok Shop, Shipping Locations: Grillo's, West Texas

☆ Brite Payments, a fintech startup founded by a former Klarna employee, just raised $60 million using this 10-slide pitch deck
▼ + stars: | 2023-10-04 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Fintech startup Brite Payments has raised $60 million in venture capital funding as it looks to scale its European operations. Founded in 2019, the Swedish firm is in the instant bank transfer space, a burgeoning sector of open banking known as account-to-account (A2A) payments. Based in Stockholm, Brite was founded by a former employee at buy-now, pay-later giant Klarna, Lena Hackelöer, and operates in 25 countries leveraging Europe wide open banking regulation, known as PSD2. Its latest capital injection comes from London fund Dawn Capital which led the round alongside Headline and existing investor Incore. You can check out Brite Payment's 10 slide pitch deck below:

Persons: Brite, Lena Hackelöer, Hackelöer Organizations: Dawn Capital Locations: Swedish, Stockholm, Europe, London, Sweden, Malaga, Spain

A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. Brent crude oil futures were up 55 cents to $91.26 a barrel by 1:01 p.m. EDT (1701 GMT), after falling to a session low of $89.50, the lowest price since Sept. 8. Higher interest rates and a stronger dollar make oil more expensive for holders of other currencies, which could dampen oil demand. Talks to restart Iraqi oil exports via a crude oil pipeline that runs through Turkey are still ongoing, an Iraqi oil official told Reuters on Tuesday, a day after Turkey said operations would start again this week after nearly a six-month stoppage. U.S. crude inventories were expected to have fallen by about 500,000 barrels last week, a preliminary Reuters poll showed on Monday.

Persons: Alexander Manzyuk, Phil Flynn, Alexander Novak, Stephanie Kelly, Natalie Grover, Laura Sanicola, Trixie Yap, Marguerita Choy, Mark Potter, Paul Simao Organizations: REUTERS, Brent, . West Texas, U.S ., Federal Reserve, Price Futures Group, Investors, Organization of, Petroleum, Reuters, Gulf Cooperation, BMI Research, Thomson Locations: Republic of Tatarstan, Russia, Saudi Arabia, OPEC, Asia, Turkey, Gulf, Iraq

A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. Brent crude oil futures were down 10 cents to $90.61 a barrel by 11:15 a.m. EDT (1515 GMT), after falling to a session low of $89.50, the lowest since Sept. 8. Higher interest rates and a stronger dollar make oil more expensive for holders of other currencies, which could dampen oil demand. Talks to restart Iraqi oil exports via a crude oil pipeline that runs through Turkey are still ongoing, an Iraqi oil official told Reuters on Tuesday, one day after Turkey said operations would start again this week after a near six-month stoppage. U.S. crude inventories were expected to have fallen by about 100,000 barrels last week, a preliminary Reuters poll showed on Monday.

Persons: Alexander Manzyuk, Phil Flynn, Craig Erlam, Stephanie Kelly, Natalie Grover, Laura Sanicola, Trixie Yap, Marguerita Choy, Mark Potter Organizations: REUTERS, Wednesday, Brent, . West Texas, U.S ., U.S, Reserve, Futures, Investors, Organization of, Petroleum, Reuters, Gulf Cooperation, BMI Research, Thomson Locations: Republic of Tatarstan, Russia, OPEC, Saudi Arabia, Asia, Turkey, Gulf, Iraq, .

☆ I resell tickets online and make up to $32,000 in profit a month. Here's how I do it.
▼ + stars: | 2023-10-03 | by ( Sasha Weilbaker | ) www.businessinsider.com time to read: +6 min

After selling a few tickets to make a hockey game more affordable in 2014, he continued to resell. Now 65% of the tickets that I resell are to sporting events, while 35% are events including concerts, Broadway shows, and comedy events. My favorite selling platform is TickPick because I find that it has the best pricing for purchasing, and its customer service is excellent. Pricing depends on each sellerI know many sellers who try to price their tickets for as cheap as possible. In May, I sold 850 tickets for just under $121,000 in sales, which equaled about $32,000 in profit, but this number ranges from month to month depending on the season.

Persons: —, Shiraz Mawani, Bruno Mars, Katy Perry, I'm, it'll, there's, it's Organizations: Service, NHL, Craigslist, Broadway Locations: Shiraz, Toronto

☆ Malaysia prepares to make rain, close schools as haze worsens
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +2 min

Malaysia's air quality was deteriorating, particularly in the western part of Peninsular Malaysia, with 11 areas recording unhealthy air pollution index (API) readings, the department's director general, Wan Abdul Latiff Wan Jaffar, said in a statement late on Monday. Malaysia said last week fires in neighbouring Indonesia were causing the pollution although Indonesia has denied detecting any smoke drifting over its borders into Malaysia. Schools and kindergartens must stop all outdoor activities when API readings reach 100, and close when they reach 200, he said. The environmental group Greenpeace, meanwhile, called on countries in the region to introduce legislation to stop plantation companies causing air pollution. Singapore, which prides itself on its clean air, passed a cross-border air pollution law in 2014 that makes those who cause haze both criminally and civilly liable.

Persons: Wan Abdul Latiff Wan Jaffar, Wan Abdul Latiff, Heng, Chun, Rozanna, Robert Birsel Organizations: of Environment, Malaysian, Greenpeace, Greenpeace Southeast, Thomson Locations: KUALA LUMPUR, Malaysia, Indonesia, Peninsular Malaysia, Borneo, Greenpeace Southeast Asia, Singapore

☆ Malaysia Prepares to Make Rain, Close Schools as Haze Worsens
▼ + stars: | 2023-10-02 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +2 min

Persons: Wan Abdul Latiff Wan Jaffar, Wan Abdul Latiff, Heng, Chun, Rozanna, Robert Birsel Organizations: Reuters, of Environment, Malaysian, Greenpeace, Greenpeace Southeast Locations: KUALA LUMPUR, Malaysia, Indonesia, Peninsular Malaysia, Borneo, Greenpeace Southeast Asia, Singapore

Biden's Interior Department on Friday unveiled a congressionally mandated five-year plan for offshore oil drilling that included just three sales, all in the Gulf of Mexico -- the lowest number in any five-year plan since the government began publishing them in 1980. Previous five-year offshore lease programs have ranged between 11 and 41 sales, according to Interior's U.S. Bureau of Ocean Energy Management. The Inflation Reduction Act, a landmark climate change law passed last year, made oil and gas lease sales a prerequisite for new offshore wind power auctions. Biden sees offshore wind power as a key element to his plan to decarbonize the U.S. economy by 2050. In a sign of the litigious nature of U.S. drilling policy, Biden's administration had been scheduled to hold a Congressionally mandated Gulf of Mexico oil and gas lease auction this month.

Persons: Biden, Erik Milito, Abigail Dillen, we've, Mike Sommers, Bill Cassidy, Vladimir Putin, Cassidy, Trump, Nichola Groom, Jamie Freed, Daniel Wallis Organizations: Biden's, Department, Reuters, National Ocean Industries Association, U.S . Bureau of Ocean Energy Management, Bureau of Ocean Energy Management, Interior Department, Biden, American Petroleum Institute, U.S . Chamber of Commerce, Gulf Coast, OPEC, Organization of, Petroleum, ., Interior, Thomson Locations: Gulf of Mexico, U.S, Gulf, Mexico, Putin, Louisiana, Russia, California

☆ OpenAI unveils Dall-E 3, latest version of its text-to-image tool
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 20 (Reuters) - OpenAI on Wednesday unveiled Dall-E 3, the latest version of its text-to-image tool that uses its wildly popular AI chatbot ChatGPT to help fill in prompts. Dall-E 3 will be available to ChatGPT Plus and Enterprise customers in October via the API, the company said. OpenAI said the latest version of the tool will have more safeguards such as limiting its ability to generate violent, adult, or hateful content. OpenAI said creators could opt out of using some or all of their work used to train future text-to-image tools. OpenAI's race to create accurate text-to-image AI tools has several competitors, including Alibaba's Tongyi Wanxiang, Midjourney and Stability AI, who continue to refine their image-generating models.

Persons: Dado Ruvic, Dall, ChatGPT, " DALL, OpenAI, Tongyi, John Grisham, George R.R, Martin, Chandni Shah, Subhranshu Sahu Organizations: REUTERS, Enterprise, Washington D.C, Thomson Locations: Washington, Bengaluru

☆ AI models from OpenAI and other tech giants are being bombarded by a new swarm of bots 'extracting intelligence'
▼ + stars: | 2023-09-21 | by ( Alistair Barr | ) www.businessinsider.com time to read: +5 min

These bots scrape information from AI models, including OpenAI's GPT-4. "AI models can, in theory, share everything they know. This is often done by infiltrating applications that have official accounts and API connections with the largest and most powerful AI models, Rauch explained. Evading China's AI model blockadeA third reason for this new phenomenon: China blocked access to ChatGPT, GPT-4 and many of the other top generative AI models. So an an app could offer a seat where the user can only query AI models a certain number of times per day.

Persons: Guillermo Rauch, OpenAI's, Elad Gil, Sarah Guo, Rauch, OpenAI Organizations: Service, Google Locations: Wall, Silicon, China, GPT

[1/2] 3D printed clouds and figurines are seen in front of the Oracle cloud service logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsTORONTO, Sept 19 (Reuters) - Oracle (ORCL.N) is ready to cater to Canadian banks for their open banking needs and provide tools as needed when the country make its available, a financial services executive with the cloud computing giant said. "We are open banking ready," Sonny Singh, executive vice president of Oracle Financial Services said in an interview. Oracle's suite of financial products - used in 140 countries, billing and managing $500 billion in revenue - includes purpose-built products for financial services from financial crime, compliance applications and risk management. Oracle already counts some Canadian banks as clients for one or many of its services, that includes cloud to enterprise applications.

Persons: Dado Ruvic, Sonny Singh, Singh, Nivedita Balu, Marguerita Choy Organizations: Oracle, REUTERS, Rights, Oracle Financial Services, SIBOS, Amazon Web Services, Google, Thomson Locations: Canada, Toronto, Australia, Britain

☆ Ericsson partners with Deutsche Telekom for network APIs
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: 1 min

[1/2] A logo of Ericsson is seen outside the company's office in Kanata, Ontario, Canada April 17, 2023. REUTERS/Lars Hagberg/File photo Acquire Licensing RightsSTOCKHOLM, Sept 20 (Reuters) - Sweden's Ericsson (ERICb.ST) said on Wednesday it has partnered with Deutsche Telekom (DTEGn.DE) to offer software tools for developers and business customers that will allow telecom operators to get more revenue. Known as network application programming interface (API), the software will use the Vonage platform -- a company Ericsson bought for $6.2 billion in 2022 -- to help developers create new use cases based on a mobile network. Reporting by Supantha Mukherjee in Stockholm, editing by Terje SolsvikOur Standards: The Thomson Reuters Trust Principles.

Persons: Lars Hagberg, Sweden's, Supantha Mukherjee, Terje Solsvik Organizations: Ericsson, REUTERS, Rights, Sweden's Ericsson, Deutsche Telekom, Thomson Locations: Kanata , Ontario, Canada, Rights STOCKHOLM, Stockholm

☆ Exclusive: U.S. FDA found lapses at Novo's main U.S. factory in May 2022 -report
▼ + stars: | 2023-09-20 | by ( Maggie Fick | ) www.reuters.com time to read: +4 min

Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland, U.S., August 29, 2020. A Form 483 is a type of agency report containing "observations" that FDA inspectors "deem to be objectionable". The FDA did not immediately respond to a request for comment on the report, but usually does not comment on inspections. The report from the May 2022 inspection shows that FDA officials found the factory had failed to include one type of bacteria, abbreviated as B. cepacia, on its list of "objectionable organisms". Analysts at Barclays and Jefferies said in notes this week that, although investors may be concerned by news of potential manufacturing issues, they saw minimal impact on Novo's production of semaglutide.

Persons: Andrew Kelly, Clayton, Jefferies, Steven Lynn, Maggie Fick, Josephine Mason, Mark Potter Organizations: Food and Drug Administration, FDA, REUTERS, Novo Nordisk, Reuters, U.S . Food, Drug Administration, Barclays, Manufacturing, Thomson Locations: White Oak , Maryland, U.S, North America, Clayton , North Carolina

[1/2] 3D printed clouds and figurines are seen in front of the Oracle cloud service logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies Oracle Corp FollowTORONTO, Sept 19 (Reuters) - Oracle (ORCL.N) is ready to cater to Canadian banks for their open banking needs and provide tools as needed when the country make its available, a financial services executive with the cloud computing giant said. "We are open banking ready," Sonny Singh, executive vice president of Oracle Financial Services said in an interview. Oracle's suite of financial products - used in 140 countries, billing and managing $500 billion in revenue - includes purpose-built products for financial services from financial crime, compliance applications and risk management. Oracle already counts some Canadian banks as clients for one or many of its services, that includes cloud to enterprise applications.

Persons: Dado Ruvic, Sonny Singh, Singh, Nivedita Balu, Marguerita Choy Organizations: Oracle, REUTERS, Oracle Corp, Oracle Financial Services, SIBOS, Thomson Locations: Canada, Toronto, Australia, Britain

Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. Earlier, it hit a session peak of $95.96 a barrel, their highest since November. U.S. West Texas Intermediate crude futures dropped 28 cents to $91.20 after earlier reaching $93.74 a barrel, also the highest since November. After Brent topped $95 a barrel on Tuesday, investment bank UBS said in a note it started taking profits. Industry data on Tuesday showed U.S. crude oil stockpiles fell last week by about 5.25 million barrels, according to market sources citing American Petroleum Institute figures on Tuesday.

Persons: Nick Oxford, Brent, Analysts, Amin Nasser, Prince Abdulaziz bin Salman, Stephanie Kelly, Andrew Hayley, Paul Carsten, Kirsten Donovan, Jason Neely, David Goodman, David Gregorio, Jan Harvey Organizations: Midland , Texas U.S, REUTERS, Brent, . West Texas, UBS, Reuters, U.S . Energy, Administration, American Petroleum Institute, Nasdaq, U.S, Thomson Locations: Midland , Texas, U.S, Saudi Arabia, Russia, Saudi Aramco, Saudi, OPEC, Britain, Japan, Sweden, Switzerland, Norway, U.S . Federal, New York, Beijing

☆ California sues Chevron, Exxon, Shell, others for public deception on climate change
▼ + stars: | 2023-09-18 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +5 min

The state of California on Friday filed one of the most significant cases against major oil companies for their role in perpetuating climate change. The oil companies named as defendants are BP , Chevron , ConocoPhillips , Exxon Mobil , and Shell . The state is seeking an abatement fund paid for by the defendants that will finance recovery efforts for the future damage of human-caused climate change. It also asks that the oil companies and their trade group pay a share of the damages from extreme weather disasters worsened by climate change. Shell, based in the U.K., maintained that its position on climate change "has been a matter of public record for decades."

Persons: Rob Bonta, Korey Silverman, Columbia University's, Silverman, Newsom, API's, Ryan Meyers, Roati Organizations: Exxon, American Petroleum Institute, Chevron, ConocoPhillips, Exxon Mobil, Shell, Columbia, Climate Change, California Gov Locations: San Francisco , California, California, San Francisco, Chevron, Texas

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsSept 13 (Reuters) - Oil rose on Wednesday, firming its ground near a 10-month peak reached during trading a day earlier, as the market balanced supply concerns over Libya output and OPEC+ cuts with global macroeconomic headwinds. But U.S. crude oil, distillate and gasoline stockpiles rose last week, according to market sources citing American Petroleum Institute (API) figures on Wednesday. Crude stocks rose by about 1.2 million barrels in the week ended Sept. 8, against analysts estimate of a draw of about 1.9 million barrels. Gasoline inventories rose by about 4.2 million barrels, while distillate inventories rose by about 2.6 million barrels.

Persons: Agustin Marcarian, Satoru Yoshida, Yoshida, Izvestia, Nikolai Shulginov, Brent, Yuka Obayashi, Muyu Xu, Stephen Coates, Jamie Freed, Miral Organizations: REUTERS, Brent, U.S, West Texas, OPEC, U.S . Energy, Rakuten Securities, Libya, of, Petroleum, Energy, American Petroleum Institute, Federal Reserves, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Libya, China, Saudi Arabia, Russia, OPEC

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